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(Yahoo)   CryptoCasino still full of degenerate gamblers chasing that elusive, overdue blackjack hand   (finance.yahoo.com) divider line
    More: Fail, Stock market, Short, Futures traders, market capitalization, Federal Open Market Committee, Federal Reserve System, Monetary policy, crypto hedge fund ARK36  
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729 clicks; posted to Business » on 27 Jan 2022 at 9:20 AM (16 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



33 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-01-27 9:25:25 AM  
Now you've done it.
 
2022-01-27 9:39:39 AM  
I'll have you know that it is a perfectly safe, legitimate, ponzi scheme investment opportunity that just needs a steady flow of suckers new investors to stay solvent.
 
2022-01-27 9:53:56 AM  
Messing around with futures contracts is always risky, regardless of the market.  Most traders lose money.
 
2022-01-27 10:06:09 AM  
I thought this would be about an actual bitcoin casino.

Cause I know there's a poker site that uses tether.
 
2022-01-27 10:09:30 AM  
I've lost all the money I've invested in crypto!
 
2022-01-27 10:27:17 AM  
They failed because they didn't call it Crypsino
 
2022-01-27 10:53:30 AM  

Short Victoria's War: I've lost all the money I've invested in crypto!


And I lost all the crypto I invested in money!
We should hang out!
 
2022-01-27 11:56:47 AM  
Majority of crypto currencies and NFTs are owned by few whales and there are not enough suckers to liquidate the positions, the whole thing will come crashing down as soon as one of them looses his nerve.

It's like watching the last days of CDOs and I don't have the cash to be against it, but I'm watching with morbid curiosity.
 
2022-01-27 12:34:53 PM  
Fake money, real consequences.
 
2022-01-27 12:49:26 PM  
Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay
 
2022-01-27 12:54:57 PM  

Jumpthruhoops: I'll have you know that it is a perfectly safe, legitimate, ponzi scheme investment opportunity that just needs a steady flow of suckers new investors to stay solvent.


You referring to wall street??
 
2022-01-27 12:55:36 PM  

Short Victoria's War: I've lost all the money I've invested in crypto!


Bec you havent bought any
 
2022-01-27 12:56:04 PM  
Ah yes, margin trading crypto. The penny stock trading of penny stock trading.
 
2022-01-27 12:56:50 PM  

bighairyguy: Fake money, real consequences.


Real money
Real consequences if u dont use a crypto hardware wallet
 
2022-01-27 12:58:46 PM  

madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay


I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market
 
2022-01-27 12:59:43 PM  

madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay


Probably that LOSER who I farkied as "Only an idiot would buy Bitcoin at $10,000".  I bet he feels pretty stupid now that I'm so rich.  I made FIVE FIGURES today on crypto.  CRYPTO!
 
2022-01-27 1:25:29 PM  

Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down


You can't explain that!
 
2022-01-27 1:55:05 PM  

Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!


True

State Capitalism can be explained, though.
 
2022-01-27 2:04:02 PM  

Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.


"State Capitalism"?

That's oxymoronic.
 
2022-01-27 2:58:25 PM  

Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.


Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people
 
2022-01-27 3:05:07 PM  

Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.

Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people


I thought that was called "Corruption".

"State Capitalism" is an oxymoron. Stop it.
 
2022-01-27 3:05:42 PM  

Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.

Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people


Also, how will crypto fix the problem?
 
2022-01-27 4:12:25 PM  

Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.

Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people

I thought that was called "Corruption".

"State Capitalism" is an oxymoron. Stop it.


Im guessing uve never heard of farm subsidies to help out millionaire big farmers??
 
2022-01-27 4:14:40 PM  

Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.

Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people

Also, how will crypto fix the problem?


Public open source peer to peer blockchains decentralize power....

You can read up on how
 
2022-01-27 4:23:24 PM  

Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.

Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people

I thought that was called "Corruption".

"State Capitalism" is an oxymoron. Stop it.

Im guessing uve never heard of farm subsidies to help out millionaire big farmers??


When the government operates the means of production, it's called "Socialism".
 
2022-01-27 4:32:03 PM  

Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: Phil McKraken: Linux_Yes: madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay

I am
And my coins are well protected by my Trezor Model T hardware wallet.

Coins go up
Coins go down
Its called the free market

Coins go up
Coins go down

You can't explain that!

True

State Capitalism can be explained, though.

"State Capitalism"?

That's oxymoronic.

Not when u realize there is a revolving door between high gov office and corporate brass/boardrooms

Both groups are the same people

Also, how will crypto fix the problem?

Public open source peer to peer blockchains decentralize power....

You can read up on how


I see. If someone commits a crime and obtains my crypto illicitly, the operators of Ethereum will work with regulatory agencies and law enforcement to recover my loss? Ethereum is insured by the FDIC in case the business model implodes? I'll never meet the people running Ethereum but I should trust them more than my local banker?
 
2022-01-27 5:57:18 PM  

Phil McKraken: I see. If someone commits a crime and obtains my crypto illicitly, the operators of Ethereum will work with regulatory agencies and law enforcement to recover my loss? Ethereum is insured by the FDIC in case the business model implodes? I'll never meet the people running Ethereum but I should trust them more than my local banker?


You should lookup how "Ethereum Classic" came about (it's actually the original).

It exposes the claims about decentralizing and democratizing power as lies and shows that even here you can get bailed out if you're rich and influential enough whilst countless smaller scam victims just have to suck it up.
 
2022-01-27 6:59:13 PM  

1000Monkeys: Phil McKraken: I see. If someone commits a crime and obtains my crypto illicitly, the operators of Ethereum will work with regulatory agencies and law enforcement to recover my loss? Ethereum is insured by the FDIC in case the business model implodes? I'll never meet the people running Ethereum but I should trust them more than my local banker?

You should lookup how "Ethereum Classic" came about (it's actually the original).

It exposes the claims about decentralizing and democratizing power as lies and shows that even here you can get bailed out if you're rich and influential enough whilst countless smaller scam victims just have to suck it up.


THIS.

The fiat rich love crypto because they get an even bigger proportion of the wealth but none of the laws to restrict their wrongdoing. Look for news on crypto "airdrops" of newly minted coins ---- the people who spend the most resources get unevently bigger stakes than the small guys.

When Linux_Yes has something that bothers him, he thinks that any random horrible proposal must be better, just because it is "different".
When Linux_Yes has an itch in his groin, he repeatedly kicks himself in the genitals and sets his pants on fire. "Problem solved, no more itch!"
 
2022-01-27 7:18:15 PM  
1000Monkeys:

ChibiDebuHage:


Someone point me to a specific source, please.
 
2022-01-27 7:40:48 PM  

madgonad: Anyone notice that in the last week a certain Farker has been missing from Crypto thread?

I hope he is okay


Not caring/worth argument anymore.

This week has been interesting as hell in the btc field. Russia reversed course wants to mine, US calling btc regulation a matter of national security. They are scared, that's what that statement says fully. Surprisingly it just popped on the news. Regulate =/= ban, so that is my guess as to why. But nation state game theory is now in full swing. India reversed their ban and allowed ETFs. Brazil moving into the space. Turkey looking into it as well. It is going to get dicey in an exciting way. BitMex just bought a EURO bank outright and are offering services in several countries. I never even thought of banks just being bought by crypto exchanges, but here we are. 300 Banks working with NYDIG for crypto services. That was all within the ~week. Even Fidelty released a report outlining their theory that nations will aquire or mine to remain competitive even if they only hold it. It's honestly exciting.
 
2022-01-27 9:08:02 PM  

Phil McKraken: Someone point me to a specific source, please.


Ethereum has a feature called "Smart Contract" which is a piece of code that can be embedded in the Ethereum blockchain that will automatically execute under predefined circumstances.

Some cryptobros wanted to use this to create an organisation with no people managing it (since they love code and hate having to trust people): all the processes will be done automatically on behalf of the members (usually whoever had certain tokens in their wallets) in accordance to the smart contract. This organisation is called a "decentralized autonomous organization" (DAO).

The first DAO (called "The DAO") was launched with hundreds of millions of dollars worth of ether from investors but the smart contracts underpinning it weren't as smart as they thought: someone managed to make off with a third of all their ether using an exploit in the code (or loophole in the contract depending on your point of view).

No-one could undo the transaction but the backers of the DAO had enough clout to have Ethereum forked. In other words, they couldn't change the existing blockchain but they could make a copy of the blockchain with the undesirable transactions removed and the Ethereum Foundation (who owned the trademarks) gave it the "Ethereum" trademark and the original became known as ""Ethereum Classic".

TLDR: A bunch of rich cryptobros lost money on their poorly coded Smart Contract so they rejected this reality and substituted their own (where the loss never happened) and forced everyone else using the so-called "Ethereum" blockchain to go along with it.

https://en.wikipedia.org/wiki/Ethereum_Classic#The_DAO_bailout
 
2022-01-27 9:28:13 PM  

1000Monkeys: Phil McKraken: Someone point me to a specific source, please.

Ethereum has a feature called "Smart Contract" which is a piece of code that can be embedded in the Ethereum blockchain that will automatically execute under predefined circumstances.

Some cryptobros wanted to use this to create an organisation with no people managing it (since they love code and hate having to trust people): all the processes will be done automatically on behalf of the members (usually whoever had certain tokens in their wallets) in accordance to the smart contract. This organisation is called a "decentralized autonomous organization" (DAO).

The first DAO (called "The DAO") was launched with hundreds of millions of dollars worth of ether from investors but the smart contracts underpinning it weren't as smart as they thought: someone managed to make off with a third of all their ether using an exploit in the code (or loophole in the contract depending on your point of view).

No-one could undo the transaction but the backers of the DAO had enough clout to have Ethereum forked. In other words, they couldn't change the existing blockchain but they could make a copy of the blockchain with the undesirable transactions removed and the Ethereum Foundation (who owned the trademarks) gave it the "Ethereum" trademark and the original became known as ""Ethereum Classic".

TLDR: A bunch of rich cryptobros lost money on their poorly coded Smart Contract so they rejected this reality and substituted their own (where the loss never happened) and forced everyone else using the so-called "Ethereum" blockchain to go along with it.

https://en.wikipedia.org/wiki/Ethereum_Classic#The_DAO_bailout


Wow. Cryptocurrency really is free money. Let's start a coin: =FarkCOIN=

Imagine a gold coin featuring a squirrel with giant nuts. It should be easy; some of these people are worth at least $5 a month.
 
2022-01-27 9:47:26 PM  

Linux_Yes: Public open source peer to peer blockchains decentralize power....

You can read up on how


No, they decentralize the bookkeeping.  The power is still in the hands of the people who take what's in those digital books, and turn it into real, physical-world policy.

Despite what a lot of cryptobros think, code is not law.  Code is just a pile of information.  Law is the power to say which information will be given attention, and which will be ignored; that's literally half of what courts do, every day.
 
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